May 6 (SeeNews) - Serbia's budget was in deficit of 46.9 billion dinars ($431 million/399 million euro) in the first quarter of 2020, compared to a surplus of 15.8 billion dinars in the like period of 2019, official figures show.
Primary budget deficit totalled 40.4 million dinars, versus a 61.7 billion dinars primary budget surplus in the first quarter of 2019, according to data published on the website ofthe finance ministry.
Total budget revenues fell by a real 3.0% to 296.3 billion dinars in the period under review, while expenditure increased 18.5% to 343.3 billion dinars.
Tax revenues rose by a real 1.1% to 262 billion dinars, non-tax revenues went down 29.0% to 32 billion dinars, and grants increased to 2.4 billion dinars from 1.3 billion dinars.
On the expenditure side, current expenditure rose by a real 18.5% to 343.3 billion dinars, while capital expenditure grew to 30 billion dinars from 24.6 billion dinars in January-March 2019.
In March 2020 alone, Serbia reported a budget deficit of 46.3 billion dinars, based on revenues of 91.6 billion dinars and expenditure of 137.9 billion dinars. The primary deficit totalled 33.5 billion dinars.
In April, Serbia's government has revised the 2020 state budget, increasing the projected fiscal deficit to 381 billion dinars in order to cover the costs of measures aimed at limiting the impact of the coronavirus crisis
Serbia's budget balance showed a surplus of 12.8 billion dinars in 2019, compared to a surplus of 32.2 billion dinars in the previous year.
(1 euro = 117.530 dinars)